James Hardie Industries (NYSE:JHX) Hits New 12-Month High – Should You Buy?

James Hardie Industries PLC. (NYSE:JHX) shares reached a new 52-week high during trading on Thursday . The company traded as high as $31.24 and last traded at $30.78, with a volume of 5451763 shares trading hands. The stock had previously closed at $31.08.

Analyst Upgrades and Downgrades

JHX has been the topic of several recent research reports. Robert W. Baird set a $34.00 price target on James Hardie Industries in a research note on Friday, August 7th. Truist Financial raised their price objective on James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Stephens boosted their target price on shares of James Hardie Industries from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Oppenheimer upped their target price on shares of James Hardie Industries from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Zacks Research upgraded shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

James Hardie Industries Trading Up 0.4%

The company has a current ratio of 1.59, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. The company has a market cap of $18.00 billion, a P/E ratio of 124.10, a PEG ratio of 1.94 and a beta of 1.77. The stock’s 50 day moving average is $26.16 and its 200-day moving average is $23.28.

James Hardie Industries (NYSE:JHX) last posted its earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company earned $0.29 EPS. The company’s quarterly revenue was up 63.9% compared to the same quarter last year. Research analysts anticipate that James Hardie Industries PLC. will post 1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James Hardie Industries

Several large investors have recently added to or reduced their stakes in JHX. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of James Hardie Industries by 11,238.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,461 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of James Hardie Industries during the first quarter valued at $28,000. Modus Advisors LLC purchased a new stake in shares of James Hardie Industries during the fourth quarter worth approximately $31,000. Global Retirement Partners LLC raised its stake in James Hardie Industries by 3,431.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,544 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in James Hardie Industries in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.